Question - Hermann Enterprises reported the following information at December 31:
Preferred Stock, $5 par, 10,000 shares authorized $35,500
Additional paid-in capital - preferred stock 9,900
Common stock, $1par, 6,000 shares authorized 3,600
Additional paid-in capital - common stock 8,700
Retained earnings 17,000
Treasury stock, at cost of $8 per share (4,000)
Total $70,700
How many shares of common stock are outstanding?